
Economy Remains Resilient but Continues Cooldown
Despite interest rates increasing at the fastest pace in nearly 40 years and inflation still running at elevated levels, the US economy has been more resilient than expected due to the strong labor market and healthy levels of consumer spending. The Fed is in a difficult position to achieve its long-term goal of price stability as inflation is running higher than it would like despite the economy continuing to show signs of moderating.
- 2Q23